Capital Asset Advisory Services LLC Increases Holdings in Airbnb, Inc. $ABNB

Capital Asset Advisory Services LLC grew its holdings in Airbnb, Inc. (NASDAQ:ABNB) by 11.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,264 shares of the company’s stock after acquiring an additional 1,949 shares during the period. Capital Asset Advisory Services LLC’s holdings in Airbnb were worth $2,609,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Verde Capital Management lifted its position in shares of Airbnb by 5.0% in the second quarter. Verde Capital Management now owns 23,225 shares of the company’s stock valued at $3,074,000 after acquiring an additional 1,115 shares in the last quarter. Hamilton Lane Advisors LLC purchased a new stake in shares of Airbnb in the second quarter worth about $1,944,000. Kera Capital Partners Inc. lifted its position in shares of Airbnb by 60.8% in the second quarter. Kera Capital Partners Inc. now owns 3,858 shares of the company’s stock worth $511,000 after buying an additional 1,458 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs purchased a new stake in shares of Airbnb in the first quarter worth about $2,086,000. Finally, First Hawaiian Bank lifted its position in shares of Airbnb by 10.5% in the first quarter. First Hawaiian Bank now owns 7,330 shares of the company’s stock worth $876,000 after buying an additional 699 shares in the last quarter. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

Airbnb Price Performance

Shares of ABNB stock opened at $122.55 on Friday. The stock’s 50 day simple moving average is $130.46 and its two-hundred day simple moving average is $128.50. Airbnb, Inc. has a 1 year low of $99.88 and a 1 year high of $163.93. The company has a market cap of $76.16 billion, a PE ratio of 29.67, a price-to-earnings-growth ratio of 2.25 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.11. Airbnb had a return on equity of 32.19% and a net margin of 22.67%.The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the prior year, the business posted $0.86 earnings per share. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. Equities research analysts expect that Airbnb, Inc. will post 4.31 EPS for the current year.

Insider Transactions at Airbnb

In other news, Director Joseph Gebbia sold 236,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $127.53, for a total value of $30,097,080.00. Following the sale, the director directly owned 1,412,015 shares in the company, valued at approximately $180,074,272.95. This represents a 14.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $124.96, for a total value of $74,976.00. Following the completion of the sale, the chief technology officer owned 202,006 shares in the company, valued at approximately $25,242,669.76. The trade was a 0.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,438,326 shares of company stock valued at $188,798,155. Company insiders own 27.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Jefferies Financial Group decreased their target price on Airbnb from $165.00 to $160.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. BTIG Research reiterated a “neutral” rating on shares of Airbnb in a research report on Wednesday, May 28th. Royal Bank Of Canada boosted their target price on Airbnb from $140.00 to $145.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 7th. UBS Group decreased their target price on Airbnb from $156.00 to $148.00 and set a “neutral” rating on the stock in a research report on Thursday, August 7th. Finally, Truist Financial decreased their target price on Airbnb from $106.00 to $104.00 and set a “sell” rating on the stock in a research report on Wednesday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, nineteen have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $141.68.

About Airbnb

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company’s marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.